Dec 3, 2012 7:00pm EST
it often doesn't work out that way. in fact from kennedy to reagan to clinton to w. bush lower tax rates frequently increased tax revenues, particularly at the upper end of the income stream. so here now to discuss this we have cnbc contributor keith boykin a former clinton white house aide and forbes media chairman steve forbes author of freedom manifesto, why free markets are moral and big government is not. love that. hey steve and keith. keith boykin i'll give you a little supply side. you'll hate this. this couples from the irs. the irs is going to use the bush cut, the dreaded bush tax cuts. the richest 1% paid $84 billion inflation adjusted dollars more between 2000 and 2007. that's a rise of 23%. in other words, their tax rates went down. and their tax revenues went up. now, isn't mr. obama making a mistake? >> well, the rich are paying more in taxes because the rich are disproportionately receiving most of the income in this country. the reality, larry, is that in my lifetime we've actually only raised income tax rates three times. once in 1969 to pay for the vietnam war. once i
Dec 7, 2012 7:00pm EST
. federal law signed into law by president clinton in 1996. it says if a person is legally married in a state, the federal government can't recognize those marriages. that's where you talked about federal benefits heterosexual couples get and same sex couples do not. the prop 8 thing is bigger. while potentially it's confined to the state of california only, the question it out there having given the right to gay marriage could the state then take it away through proposition 8 passed by a majority of the vote nurse 2008. having taken that case, the court could get to the bedrock issue. can any state refuse to let same sex couples get married under the federal constitution. it could potentially be narrow or very far. >> pete, as i understand it, let me ask you. this one of these things, maybe the driving one, is defense of marriage act was about paying the estate act. where one of the two people said she didn't have to pay the estate tax because a married couple wouldn't have to. >> reporter: this is a case from new york. a woman named edie windsor who married her partner in canada.